Holden confident of being around a good while longer
Discussion
GM HOLDEN is on the verge of returning to profitability, despite the slump in domestic and export markets, according to chairman and managing director Mark Reuss. Dismissing concerns that Holden would be adversely affected by parent company General Motors’ decision to enter Chapter 11 bankruptcy in the US, Mr Reuss said Holden would be a vital part of the ‘New GM’ and a vital part of the Asia-Pacific division. “We are safe. We are part of the New GM, which is terrifi c,” Mr Reuss told a packed news conference in Melbourne yesterday. This has no direct impact on our employees, our dealers, our suppliers or, most importantly, our customers.” Mr Reuss was confi dent about Holden’s future, declaring:
- Holden is not dependent on GM for investment capital and there were nooutstanding loans to the US company;
- Holden expects to move back into profit in the fi rst half of 2010;
- New export contracts will lift production back to capacity;
- Development of the Commodore will move from a cyclical basis to continuous improvement; and
- A “barrage” of new fuel effi ciency and emissions technology would be introduced on Commodore over the next year or so.
- Holden is not dependent on GM for investment capital and there were nooutstanding loans to the US company;
- Holden expects to move back into profit in the fi rst half of 2010;
- New export contracts will lift production back to capacity;
- Development of the Commodore will move from a cyclical basis to continuous improvement; and
- A “barrage” of new fuel effi ciency and emissions technology would be introduced on Commodore over the next year or so.
k emissions....
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